Lorenzo Stroe
Independent Analyst
- Chainlink price has hit its target but aims for even more amid bullish momentum.
- The digital asset had a massive breakout towards $23.7 hitting a new all-time high.
Chainlink was trading inside a daily ascending parallel channel before a massive breakout on January 15 that pushed the digital asset to its new all-time high of $23.7. After a brief consolidation period, LINK is ready for another leg up.
Chainlink price now aims for $30
The breakout of the ascending parallel channel had a price target of $24 and Chainlink hit $23.7. The digital asset retraced back to $20.37 and it’s ready to resume its uptrend with another leg up.
LINK/USD daily chart
It seems that LINK’s next leg up could drive its price towards $30 as there is very low resistance above. The In/Out of the Money Around Price (IOMAP) chart shows only one crucial resistance area between $21.44 and $22 but nothing ahead of it.
LINK IOMAP chart
However, the IOMAP model also indicates that there is low support on the way down. The next significant support level would be the previous resistance trendline at $18 which means LINK is at risk of falling towards it.
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